EVR Research LP Sells 306,480 Shares of SoundThinking, Inc. $SSTI

Key Points

• EVR Research LP significantly reduced its stake in SoundThinking, Inc. by 90.1%, now holding only 33,520 shares, while several other hedge funds increased their positions in the company.
• The company's stock was downgraded by Wall Street Zen from a "hold" to a "sell" rating, while other analysts maintain a "buy" rating with an average target price of $20.80.
• SoundThinking reported a loss of ($0.24) earnings per share in its most recent quarter, missing analyst expectations and setting a forecast of ($0.42) EPS for the current year.

EVR Research LP reduced its holdings in SoundThinking, Inc. (NASDAQ:SSTI - Free Report) by 90.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 33,520 shares of the company's stock after selling 306,480 shares during the quarter. SoundThinking makes up about 0.2% of EVR Research LP's portfolio, making the stock its 28th largest holding. EVR Research LP owned about 0.26% of SoundThinking worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSTI. Samjo Management LLC acquired a new stake in shares of SoundThinking during the first quarter worth $1,085,000. Pullen Investment Management LLC increased its position in shares of SoundThinking by 61.1% during the fourth quarter. Pullen Investment Management LLC now owns 142,040 shares of the company's stock worth $1,855,000 after buying an additional 53,888 shares during the period. Mackenzie Financial Corp increased its position in shares of SoundThinking by 120.1% during the first quarter. Mackenzie Financial Corp now owns 94,362 shares of the company's stock worth $1,599,000 after buying an additional 51,498 shares during the period. Informed Momentum Co LLC acquired a new stake in shares of SoundThinking during the first quarter worth $732,000. Finally, Wells Fargo & Company MN increased its position in shares of SoundThinking by 681.6% during the fourth quarter. Wells Fargo & Company MN now owns 45,468 shares of the company's stock worth $594,000 after buying an additional 39,651 shares during the period. 60.74% of the stock is currently owned by institutional investors and hedge funds.

SoundThinking Stock Performance

Shares of SoundThinking stock traded down $0.04 during trading hours on Friday, reaching $12.73. The company's stock had a trading volume of 40,317 shares, compared to its average volume of 68,707. SoundThinking, Inc. has a one year low of $9.33 and a one year high of $19.43. The company has a market capitalization of $162.83 million, a P/E ratio of -16.11 and a beta of 1.26. The stock's fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $14.77.

SoundThinking (NASDAQ:SSTI - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.15). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The business had revenue of $25.89 million during the quarter, compared to the consensus estimate of $26.61 million. SoundThinking has set its FY 2025 guidance at EPS. As a group, research analysts forecast that SoundThinking, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at SoundThinking

In other SoundThinking news, insider Nasim Golzadeh sold 1,809 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $15.46, for a total value of $27,967.14. Following the transaction, the insider directly owned 94,134 shares of the company's stock, valued at approximately $1,455,311.64. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 3,115 shares of company stock valued at $46,989 over the last 90 days. 10.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SSTI has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 price objective on shares of SoundThinking in a research report on Wednesday, May 14th. Wall Street Zen cut shares of SoundThinking from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Roth Mkm restated a "buy" rating and issued a $30.00 price target on shares of SoundThinking in a report on Wednesday, May 14th. Finally, Lake Street Capital reduced their price target on shares of SoundThinking from $20.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $20.80.

SoundThinking Company Profile

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes.